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Development in Financial Markets and the performance of German IPOs

Gounopoulos, D and Hoebelt, J (2013) Development in Financial Markets and the performance of German IPOs In: Handbook of Research on IPOs. Edward Elgar Publishing, Surrey. ISBN 1781955360

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By using an expanded sample of German IPOs listed between 1992 and 2012 covering two major amendments on the financial market, IFRS adoption and the recent financial crisis. Their results indicate that IFRS adoption has reduced underpricing in Germany and has significantly affected their long-term performance. This clearly suggests the advantages of preparing IFRS accounts which might be an incentive for private companies to use IFRS voluntarily. Similarly firms that have gone public during the recent financial crisis offered significantly less initial returns to their aftermarket investors.

Item Type: Book Section
Divisions : Faculty of Arts and Social Sciences > Surrey Business School
Authors :
Date : October 2013
Uncontrolled Keywords : Going public (Securities)
Additional Information : Full text may be available from this repository at a later date.
Depositing User : Symplectic Elements
Date Deposited : 10 Jul 2013 15:05
Last Modified : 23 Sep 2013 20:09

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